Allianz SE Purchases New Position in Atkore Inc. (NYSE:ATKR)

Allianz SE bought a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 62,273 shares of the company's stock, valued at approximately $5,197,000. Allianz SE owned about 0.18% of Atkore at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ATKR. Jones Financial Companies Lllp boosted its position in Atkore by 87.7% during the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after purchasing an additional 186 shares during the period. Quarry LP lifted its stake in shares of Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company's stock worth $54,000 after buying an additional 208 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after buying an additional 195 shares during the period. Harbour Investments Inc. grew its stake in Atkore by 3,333.3% in the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock valued at $86,000 after buying an additional 1,000 shares during the last quarter. Finally, KBC Group NV raised its holdings in Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after acquiring an additional 469 shares during the period.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the transaction, the insider now owns 33,760 shares in the company, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.99% of the company's stock.

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Atkore Price Performance

Shares of NYSE:ATKR traded down $5.62 during trading on Thursday, reaching $55.86. 193,057 shares of the company traded hands, compared to its average volume of 692,733. The firm has a market capitalization of $1.94 billion, a PE ratio of 5.41 and a beta of 2.02. Atkore Inc. has a 52 week low of $55.46 and a 52 week high of $189.84. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The company's 50 day moving average is $67.65 and its two-hundred day moving average is $80.38.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $661.60 million during the quarter, compared to analysts' expectations of $680.77 million. During the same quarter in the prior year, the business posted $4.12 earnings per share. Atkore's revenue was down 17.1% compared to the same quarter last year. As a group, sell-side analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 2.29%. Atkore's dividend payout ratio (DPR) is 12.39%.

Analysts Set New Price Targets

ATKR has been the topic of several research reports. Roth Mkm began coverage on Atkore in a research report on Tuesday, December 17th. They issued a "buy" rating and a $100.00 target price on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Loop Capital downgraded Atkore from a "buy" rating to a "hold" rating and dropped their target price for the stock from $115.00 to $65.00 in a report on Monday, February 10th. KeyCorp reduced their target price on shares of Atkore from $105.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Finally, Roth Capital raised shares of Atkore to a "strong-buy" rating in a research report on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Atkore has an average rating of "Moderate Buy" and an average target price of $103.17.

Atkore Profile

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.